House construction booms, apartment construction busts

Friday, 8 January 2021

Yesterday’s dwelling approvals data for November, released by the ABS, revealed that detached house approvals hit a fresh 20-year high:

At the same time, however, unit & apartment approvals have retraced to around 2010 levels:

Today, I want to focus on the high-rise apartment segment, which has driven the apartment bust.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.